股东协议的科斯法律经济学分析——以上海米蓝贸易公司案为例  

Coasian Law and Economic Analysis of Shareholders' Agreements:Research on the Case of Shanghai Milan Trading Company

作　　者：王真真 Wang Zhenzhen

机构地区：[1]清华大学法学院

出　　处：《财经法学》2019年第2期70-80,共11页Law and Economy

基　　金：梁上上教授主持的国家社会科学基金项目"有限公司股东的清算义务人地位研究"(18BFX128)的阶段性成果

摘　　要：有限公司中合法有效的股东协议应当被遵守,对股东之间权利安排的格局是股东之间妥协的结果,法院对此应当予以充分的尊重,不宜轻易以司法进行干预。股东会决议的内容不能随意剥夺股东资格,除非在有过错情况下,法院应当严格遵守公司法关于股权回购请求权的规定,而不得随意扩大。在进行法经济学的交易成本衡量时,应当考虑到损害的相互性,而不是偏向某一方,明晰的产权界定是合法裁判的基础,若置成文法于不顾,会造成整个社会的失序。上海米蓝贸易公司案中即存在违反现行法律规定的情形,法院其实是在违法裁判。我国是成文法国家,法律应当被遵守,在我国《公司法》对异议股东回购请求权的行使条件有明确限定的情况下,法院在适用法律时不宜对该条做肆意的扩大解释,否则就是对法律的曲解,从法律经济学的角度来说,这样会造成更大的社会失序,并不符合科斯法律经济学的真谛。The shareholders agreements which are complied with the law should be enforced. The arrangement of the rights among the shareholders is the result of the compromise of shareholders. Therefore, courts should be abstained from intervening private orders. A shareholder should not be deprived of shareholder capacity by the resolution of the shareholders meeting. Unless there is a fault, courts shall make decision according to the provisions of the company law regarding the right to purchase shares, and shall not arbitrarily apply the provision to other circumstances. When measuring the transactional costs through law and economics analysis, we should consider the mutuality of damage, rather than favoring one side. The allocation of clear property rights is the basis of making reasonable judgments. Otherwise, disregarding the law will cause disorder of the whole society. The case discussed in this article is in the case which violates the current corporate law. The court actually made a decision disregarding the law. China is a country where statute law is the resource for trial and the court should explain and apply statute law correctly. China Company Law clearly defines the preconditions for the exercise of the right to ask shares repurchase when a shareholder disagree the resolution of a corporation, so the court should not interpret the article by applying it to other circumstances. Otherwise, it is the misinterpretation of the law. From the perspective of law and economics, this will lead to greater disorder of a society and does not match the true meaning of Coasian law and economics.

关 键 词：股东协议 公司契约 产权界定 股权回购 

分 类 号：D922.291.91[政治法律—经济法学] D920.5[政治法律—法学]